Popular, Inc. Declares Dividend on Preferred Stock, Announces Distribution on Trust Preferred Securities

Rhea-AI Summary

Popular, Inc. (NASDAQ: BPOP) has declared a monthly cash dividend of $0.132813 per share for its 6.375% Non-Cumulative Monthly Income Preferred Stock, payable on February 1, 2021, to shareholders of record as of January 15, 2021. Additionally, the company announced monthly distributions for its Trust Preferred Securities: $0.139583 per security for 6.700% Cumulative Monthly Income Trust Preferred Securities and $0.127604 for 6.125% Cumulative Monthly Income Trust Preferred Securities, also payable on February 1, 2021.

Positive

• Monthly cash dividend of $0.132813 for Non-Cumulative Preferred Stock shows stable income for shareholders.
• Consistent distributions for Trust Preferred Securities reinforce financial stability.

Negative

• None.

Popular, Inc. (NASDAQ: BPOP) announced today that it has declared the following monthly cash dividend on its outstanding shares of Non-Cumulative Monthly Income Preferred Stock:

• a monthly cash dividend of $0.132813 per share of 6.375% Non-Cumulative Monthly Income Preferred Stock, 2003 Series A, payable on February 1, 2021 to holders of record as of January 15, 2021.

The Corporation also announced the following monthly distributions on its outstanding Trust Preferred Securities:

• a monthly distribution of $0.139583 per security of 6.700% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust I, payable on February 1, 2021 to holders of record as of January 15, 2021; and
• a monthly distribution of $0.127604 per security of 6.125% Cumulative Monthly Income Trust Preferred Securities issued by Popular Capital Trust II, payable on February 1, 2021 to holders of record as of January 15, 2021.

About Popular, Inc.

Popular, Inc. (NASDAQ: BPOP) is the leading financial institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210104005702/en/

FAQ

What is the monthly dividend for BPOP's Non-Cumulative Monthly Income Preferred Stock?

The monthly dividend for BPOP's Non-Cumulative Monthly Income Preferred Stock is $0.132813 per share.

When will the dividends for BPOP be paid?

The dividends for BPOP will be paid on February 1, 2021.

What are the distribution amounts for BPOP's Trust Preferred Securities?

BPOP's Trust Preferred Securities will have distributions of $0.139583 for the 6.700% series and $0.127604 for the 6.125% series.

Who is eligible for the BPOP dividend payments?

Shareholders on record as of January 15, 2021, are eligible for the BPOP dividend payments.